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ISLAMABAD, Dec 15 (APP):Prime Minister Muhammad Shehbaz Sharif on Monday welcomed the State Bank of Pakistan’s decision to reduce the policy rate by 50 basis points, terming it a timely step that would promote economic activity, provide relief to the public, and support the business community, particularly small and medium enterprises.
The prime minister expressed satisfaction over the monetary easing announced by the State Bank of Pakistan, saying the move reflected improving macroeconomic indicators and the success of the government’s economic management, a Prime Minister’s Office news release said.
He noted that, by the grace of Allah, the hard work of the government’s economic team was yielding positive results. The prime minister lauded Federal Minister for Finance Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, the finance secretary, and their teams for their concerted efforts towards stabilising the economy and putting Pakistan on a growth trajectory.
Highlighting the broader context of the decision, the PM said the country had achieved a measure of economic stability after a challenging period, during which both the business community and the general public made significant sacrifices.
He reiterated that the government was committed to translating economic improvement into tangible relief for citizens to the maximum extent possible.
The prime minister underscored that the reduction in the policy rate would lower borrowing costs, making credit more accessible and affordable. This, he said, would especially benefit small and medium-sized enterprises, enabling them to expand operations, generate employment, and contribute more effectively to national economic growth.
Reaffirming the government’s resolve, he said Pakistan was moving steadily towards development and that prudent fiscal and monetary coordination would continue to underpin sustainable economic recovery.